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Paychex and SoFi at Work Join Forces to Enhance Financial Well-being for Employees

Strategic Insights

— 2 min read

Paychex, a leading provider of human capital management solutions, has announced a partnership with SoFi at Work to expand its financial well-being offerings. Through this collaboration, Paychex Flex Perks users will gain access to SoFi's personal finance tools, addressing the critical need for financial independence among today's workforce. Studies have shown that access to the right financial tools and advice is essential for achieving long-term financial independence. The partnership aims to provide employees with the necessary resources to manage their finances, including personal loans, student loans, loan refinancing, and more.

Key Takeaways:

  • Paychex has partnered with SoFi at Work to bring financial well-being resources and solutions to Paychex Flex Perks users.
  • The partnership will provide employees with access to SoFi's personal finance tools, including personal loans, student loans, loan refinancing, and more.
  • Studies have shown that access to the right financial tools and advice is essential for achieving long-term financial independence.
  • SoFi's survey found that the top regret among student loan borrowers was not seeking financial guidance.
  • The same survey revealed that becoming debt-free (41%) and owning a home (44%) were the top milestones for students, graduates, and parents.
  • Paychex Flex Perks is available in Paychex Flex, one of the company's cloud-based HCM SaaS platforms, making it easy and intuitive for employees to enroll in benefits.
  • Since its launch in the summer of 2024, more than 230,000 customer employees have purchased at least one benefit from the marketplace.
  • SoFi at Work's mission is to help employers support their workforce with benefits in their journey toward financial independence.
  • Paychex will continue to expand the number of offerings within Paychex Flex Perks based on evolving trends and customer feedback.
  • Paychex is the digitally driven HR leader that is reimagining how companies address the needs of today's workforce with the most comprehensive, flexible, and innovative HCM solutions for organizations of all sizes.
  • Paychex pays 1 out of every 11 American private sector workers and is raising the bar in HCM for nearly 800,000 customers in the U.S. and Europe.

Statistics:

  • Over 10.9 million members trust SoFi to borrow, save, spend, invest, and protect their money.
  • Galileo, SoFi's technology platform, has been used by fintechs, financial institutions, and brands to build and manage innovative financial solutions across 158.4 million global accounts.
  • SoFi's survey found that becoming debt-free (41%) and owning a home (44%) were the top milestones for students, graduates, and parents.

Sources:

  • Paychex press release (July 17, 2025)
  • SoFi press release (NASDAQ: SOFI)
  • SoFi Technologies (NASDAQ: SOFI)
  • Paychex website (paychex.com)
  • SoFi at Work website (sofi.com/sofi-at-work)

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